Ethereum Foundation transfers 160,000 ETH, Bitcoin falls back to 108K

The Dow Jones Industrial Average hit a record high on Tuesday, driven by strong earnings reports from Coca-Cola and 3M. The crypto market fell 2.04% in the past 24 hours, with Bitcoin retreating to 108K. The Ethereum Foundation transferred 160,000 ETH ( worth approximately 654 million USD ) to a Wallet that Arkham claimed had previously been used for selling, with Executive Director Wang Xiaowei clarifying that it was only part of a scheduled Wallet migration. The digital asset financial company (DAT) fell nearly across the board.

Corporate financial reports support the rise of the market.

FactSet's data shows that among the S&P 500 index constituent companies that have reported their earnings to date, more than three-quarters have exceeded expectations. With the artificial intelligence industry remaining strong, large tech companies are expected to dominate profits, with the earnings of the “Seven Giants” projected to grow by 14.9% year-over-year. In contrast, the profit growth rate for the remaining 493 companies in the index is 6.7%.

Tesla will release its earnings report on Wednesday. The strong start to earnings season thus far seems to support the market's rise, especially in light of the government shutdown causing economic data to stagnate.

The market expects that the Federal Reserve will cut interest rates by another 25 basis points at the meeting at the end of October, which also supports market sentiment. The consumer price index to be announced on Friday, (CPI), is expected to provide clues about the inflation situation, which may affect the decisions to be made by the Federal Reserve.

Ethereum Foundation transferred 160,000 ETH, Bitcoin fell back to 108K.

The crypto market has fallen by 2.04% in the past 24 hours, market sentiment has slightly recovered, but the Fear and Greed Index still falls in the fear range at 33. Bitcoin's dominance remains at a recent high of 59.1%, while altcoins continue to be sluggish.

The net outflow of Ethereum and Bitcoin spot ETFs has slowed down, while the price of spot gold has rapidly fallen from its peak, dropping more than 5.3% on Tuesday, marking the largest single-day decline in over five years. As traders take profits by selling gold, funds may have the opportunity to flow into riskier assets like Bitcoin?

( The net outflow of Ether and Bitcoin spot ETFs has slowed down, and the data on 10/20 may reveal a turning point signal ).

The Ethereum Foundation transferred 160,000 ETH ( worth approximately $654 million ) to a wallet that Arkham claims was previously used for sales. Hsiao-Wei Wang, co-executive director of the Ethereum Foundation (EF), stated on social media that this transfer is part of a planned wallet migration. The price of ETH was not significantly affected by this.

DAT almost all fell

Digital asset financial company (DAT) nearly all fell.

MicroStrategy (MSTR): up 1.79%

Metaplanet (3350.T): fall 6.61%

BitMine (BMNR): fall 3.62%

SharpLink (SBET): fall 3.04%

Forward Industries (FORD): fall 8.26%

Upexi (UPXI): fall 11.01%

DeFi Development (DFDV): increase 0.28%

This article reports that the Ethereum Foundation transferred 160,000 ETH, and Bitcoin fell back to 108K, first appearing in Chain News ABMedia.